CarCharging Completes Acquisition of 350Green

Electric Vehicle Charging Service Provider Continues to Consolidate Market and Acquires Third EV Charging Station Owner and Operator

MIAMI BEACH, Fla., May 2, 2013 /PRNewswire/ -- Car Charging Group, Inc. (OTCQB: CCGI) ("CarCharging"), a nationwide provider of convenient electric vehicle (EV) charging services, announced the closing of its acquisition of 350Green LLC, an owner and operator of EV charging stations throughout the United States. This is the third acquisition in 2013 for CarCharging as the company recently acquired Beam Charging and EVPass. With the acquisition of 350Green, CarCharging is now the owner of the largest independent public EV charging station network in the United States and the world.

CarCharging and 350Green operate EV charging stations at locations across the country. Both companies are partners with Simon Property Group, Inc., the largest real estate investment trust in the United States, and Walgreen's, the nation's largest drugstore chain. The acquisition of 350Green expands CarCharging's partnerships with major companies, retailers, municipalities, and universities, including Intel, Whole Foods, Sears, Supervalu, City of Chicago, and the University of Chicago at Illinois. This acquisition also further extends CarCharging's penetration in California, Illinois, and Washington.

"After nearly a year of working diligently to acquire 350Green, we are pleased to announce that the acquisition is finally complete," said Michael D. Farkas, CEO of CarCharging. "We are confident that this is a step forward in strengthening the EV charging industry, and we will work as quickly as possible to consolidate operations and ensure that all of 350Green's stations are working properly."

CarCharging has 85 strategic partnerships across various business sectors. CarCharging's partners manage or own a total of more than 8 million parking spaces, and include, but are not limited to City Park, Ace Parking, Central Parking, Equity One, Equity Residential, Forest City Enterprises, Walgreens, Simon Property Group, Pennsylvania Turnpike Commission, City of Miami Beach (FL), and the City of Santa Clara (CA). CarCharging's services utilize EV charging stations manufactured by ChargePoint®.

About 350Green350Green operates a scalable network of plug-in electric vehicle (EV) charging stations across the US. The company distributes its stations by partnering with retail hosts at select, high-traffic shopping centers and other places where EV drivers live and work, to create an expansive and convenient network of EV charging locations.

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